Current liabilities are generally presented on the statement of financial position in order or liquidity, but IFRS allows presentation in reverse order of liquidity as well.

Question

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Current liabilities are typically presented in order of their liquidity, meaning that the liabilities that are due soonest are listed first, followed by those that are due later. However, IFRS does allow for the presentation of current liabilities in reverse order of liquidity, meaning that those due later are listed first, followed by those that are due sooner.

Current Liabilities Are Generally Presented on the Statement of Financial